Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
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The ITAT ruled in favor of the appellant, allowing credit for TDS deducted under Section 194C. The Tribunal determined that despite transferring gross contract receipts to constituent partners on a back-to-back basis, the appellant properly reported the profit/loss in its own returns. The AO erroneously invoked Section 238(1) to deny TDS credit, overlooking that the appellant had disclosed relevant profits and claimed corresponding TDS in accordance with Section 199(1) and Rule 37BA(1). Since payments were made to the appellant and TDS was remitted to the government in the appellant's name as evidenced by Form 26AS, the appellant alone was entitled to claim the TDS credit.
The ITAT ruled in favor of the appellant, allowing credit for TDS deducted under Section 194C. The Tribunal determined that despite transferring gross contract receipts to constituent partners on a back-to-back basis, the appellant properly reported the profit/loss in its own returns. The AO erroneously invoked Section 238(1) to deny TDS credit, overlooking that the appellant had disclosed relevant profits and claimed corresponding TDS in accordance with Section 199(1) and Rule 37BA(1). Since payments were made to the appellant and TDS was remitted to the government in the appellant's name as evidenced by Form 26AS, the appellant alone was entitled to claim the TDS credit.
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